From: Jeremy <jlrubin@mit•edu>
To: Erik Aronesty <erik@q32•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Gradual transition to an alternate proof without a hard fork.
Date: Fri, 16 Apr 2021 14:24:30 -0700 [thread overview]
Message-ID: <CAD5xwhjWHsEZjTKJA3e+mwKZxuXf043jKvqDG4_hYRhd1jR07g@mail.gmail.com> (raw)
In-Reply-To: <CAJowKgJNefXZTCJk_EK4JC7uPKsTrGv=yUROpjL_7GGbfNrrvA@mail.gmail.com>
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I think you need to hard deprecate the PoW for this to work, otherwise all
old miners are like "toxic waste".
Imagine one miner turns on a S9 and then ramps up difficulty for everyone
else.
On Fri, Apr 16, 2021, 2:08 PM Erik Aronesty via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> Not sure of the best place to workshop ideas, so please take this with
> a grain of salt.
>
> Starting with 3 assumptions:
>
> - assume that there exists a proof-of-burn that, for Bitcoin's
> purposes, accurately-enough models the investment in and development
> of ASICs to maintain miner incentive.
> - assume the resulting timing problem "how much burn is enough to keep
> blocks 10 minutes apart and what does that even mean" is also...
> perfectly solvable
> - assume "everyone unanimously loves this idea"
>
> The transition *could* look like this:
>
> - validating nodes begin to require proof-of-burn, in addition to
> proof-of-work (soft fork)
> - the extra expense makes it more expensive for miners, so POW slowly
> drops
> - on a predefined schedule, POB required is increased to 100% of the
> "required work" to mine
>
> Given all of that, am I correct in thinking that a hard fork would not
> be necessary?
>
> IE: We could transition to another "required proof" - such as a
> quantum POW or a POB (above) or something else .... in a back-compat
> way (existing nodes not aware of the rules would continue to
> validate).
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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next prev parent reply other threads:[~2021-04-16 21:24 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-04-16 20:48 Erik Aronesty
2021-04-16 21:24 ` Jeremy [this message]
2021-04-16 21:47 ` Erik Aronesty
2021-04-17 11:19 ` Devrandom
2021-04-17 11:47 ` Anthony Towns
2021-05-21 20:11 ` Billy Tetrud
2021-05-21 20:54 ` Erik Aronesty
2021-04-17 9:41 vjudeu
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